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In 2014, Various Tax Benefits Increase Due to Inflation Adjustments

In 2014, Various Tax Benefits Increase Due to Inflation Adjustments
For tax year 2014, the Internal Revenue Service announced annual inflation adjustments for more than 40 tax provisions, including the tax rate schedules, and other tax changes. Revenue Procedure 2013-35 provides details about these annual adjustments.

The tax items for tax year 2014 of greatest interest to most taxpayers include the following dollar amounts: Continue reading